Robinhood stunned the stock market with a powerful earnings report last week -- revenues up 40% year over year. Bank of America is convinced: No longer a sell, Robinhood stock is now a buy.
Retail traders are storming back, and a BofA analyst thinks that's good news for Robinhood Markets Inc.
Robinhood (NASDAQ: HOOD ) stock is up on Friday after the financial services platform company got a new price target from Bank of America analysts. This has the Bank of America analysts increasing their price target for HOOG stock from $14 per share to $24 per share.
Robinhood Markets (HOOD) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.